Irish Minister Says Banks Must Engage With Distressed Borrowers

By Joe Brennan -
Aug 28, 2011

Irish Social Protection Minister
Joan Burton said banks have a responsibility to engage with
“distressed” home-loan borrowers “on a case by case basis.”

The government will pay about 70 million euros ($101
million) in mortgage interest assistance to about 18,000
families this year, Burton said in an interview today with
Dublin-based broadcaster RTE Radio.

“I don’t think the banks and mortgage institutions are
actually engaging sufficiently with people,” she said.